GSEs See Shift Toward Higher-Income Neighborhoods in 2002 HMDA Reports
August 15, 2003
Fannie Mae and Freddie Mac got a little less of their mortgage purchases in 2002 from higher income individuals but a little more from upper income neighborhoods. According to Home Mortgage Disclosure Act data recently released by federal banking regulators, 53.3 percent of Fannie Mae’s mortgage purchases in 2002 were loans to borrowers earning 120 percent or more of their area’s median income. That was